>

Resale unit at Buona Lodge sold for nearly $1.3 mil profit

By Bong Xin Ying

/ EdgeProp Singapore |

November 29, 2019 1:31 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

SINGAPORE (EDGEPROP) - The seller of a unit at Buona Lodge made the top gain of $1.298 million over the week of Nov 12 to 19. The 1,668 sq ft unit on the fourth floor was acquired for $640,000 ($384 psf) in May 2004, and sold for $1.938 million ($1,162 psf) on Nov 14. The seller made a 203% profit, or an annualised profit of 7% over 15.5 years.

The 1,668 sq ft unit on the fourth floor of Buona Lodge was bought for $640,000 ($384 psf) in May 2004, and sold for $1.938 million ($1,162 psf) on Nov 14 (Credit: Albert Chua/ The Edge Singapore)

Located on Zehnder Road in District 5, the freehold condo was completed in 1992. It comprises 29 units over four storeys, and is a 15-minute walk from Haw Par Villa MRT station on the Circle Line.

The second biggest gain made over the week – a 103% profit of $805,154 – was at Glendale Park, located along Hillview Avenue in District 23. The 1,249 sq ft unit on the sixth floor was purchased for $782,846 ($627 psf) in June 1999, and sold for $1.588 million ($1,272 psf) on Nov 13. This means that the seller made an annualised profit of 4% over 20.5 years.

Developed by Hill Grove Realty, the freehold Glendale Park was completed in 2000. The condo is a four-minute walk from Hillview MRT station on the Downtown Line.

Meanwhile, a unit sold at Thomson 800 – on Thomson Road in prime District 11 – made the third most profitable transaction over the period, netting a 63% profit of $800,000 for the seller. The 1,399 sq ft unit on the 12th floor was bought in Nov 1999 for $1.28 million ($915 psf), and sold for $2.08 million ($1,486 psf) on Nov 13. The seller therefore made an annualised profit of 2% over 20 years.

Freehold Thomson 800, completed in 1999, was developed by Property Enterprises Development, a member of the CK Asset Holdings. The condo is an eight-minute walk from Caldecott MRT station on the Circle Line, which will become an interchange with the Thomson-East Coast Line in 2020.

On the flip side, the biggest loss registered over the week was from the resale of a 2,680 sq ft unit at Marina Bay Suites, in District 1. The 11th floor unit was sold for $4.68 million ($1,746 psf) on Nov 14, at a 35% loss of $2.497 million. The unit was purchased in May 2010 for $7.177 million ($2,678 psf). Over a holding period of 9.5 years, this translates into an annualised loss of 4%.

The 11th floor unit at Marina Bay Suites sustained a 35% loss of $2.497 million after it was sold for $4.68 million ($1,746 psf) on Nov 14 (Credit: Samuel Isaac Chua/ The Edge Singapore)

Located along 3 Central Boulevard, Marina Bay Suites was completed in 2013, and comprises 221 units in a 65-storey block. The development is a two-minute walk from Downtown MRT Station on the Downtown Line.

Check out the latest listings near Buona Lodge, Glendale Park, Thomson 800, Marina Bay Suites, MRT Stations and Schools

For price trends, recent transactions, other project info, check out these projects' research page: Buona Lodge, Glendale Park, Thomson 800, Marina Bay Suites

Read also: